PURA - Puration Finalizes Acquisition Terms With Canadian Cannabis Cultivation Operator And Targets May 30th Closing Date
April 24 2018 - 8:36AM
InvestorsHub NewsWire
Dallas, TX -- April 24,
2018 -- Puration, Inc. -- InvestorsHub NewsWire -- (USOTC:
PURA) today announced finalizing the terms with a Canadian
cannabis grow operator for the acquisition of a business intended
to expand an existing medical marijuana grow operation in Canada
and to establish a recreational marijuana grow operation in
Canada. Management plans to complete the acquisition by May
30th.
“We believe this strategic acquisition will achieve two substantial
milestones for the company and its shareholders,” said Brian
Shibley, CEO of Puration. “First, the acquisition solidifies
Puration’s entry into the marijuana cultivation market and second,
it improves Puration’s potential to be valued on less speculative
criteria. Last year, Puration took a step into the cannabis
cultivation sector with the acquisition of a nursery operation in
Texas giving the company infrastructure for a marijuana market to
be legalized at an indefinite time in the future. By entering
Canada with an experienced medical marijuana operator, and a market
set for recreational legalization nationwide in only a few months’
time, Puration has both feet now firmly in the cannabis cultivation
market sector. By firmly entering the cannabis cultivation
market sector, Puration is entering a sector where analysts are
discussing valuations in terms of price-to-earnings ratios, and
price-to-sales ratios and offering market comparable valuation
recommendations. Such valuation structure can make investment
decisions less speculative, and better reveal what we all working
here at Puration believe to be the company’s as of yet unrealized
value.”
Puration first entered the cannabis sector in 2015 with a patented
cannabis extraction technology. The company later developed a
product utilizing cannabis extraction and introduced EVERx CBD
Infused Sports Water into the sports nutrition supplements
market. The company realized its first sales from EVERx in
2017 and expects substantial EVERx sales growth in 2018. The
company also expects to add sales from its Texas nursery operation
in 2018. Puration continues to evolve in reaction to the
ever-changing landscape of the North American cannabis
sector. Management anticipates the pending transaction
announced today beneficially diversify the company adding
cultivation to its existing extraction and cannabis infused
beverage business.
For more information on Puration,
visit http://www.aciconglomerated.com.
Disclaimer/Safe
Harbor:
This news release contains
forward-looking statements within the meaning of the Securities
Litigation Reform Act. The statements reflect the Company's current
views with respect to future events that involve risks and
uncertainties. Among others, these risks include the expectation
that any of the companies mentioned herein will achieve significant
sales, the failure to meet schedule or performance requirements of
the companies' contracts, the companies' liquidity position, the
companies' ability to obtain new contracts, the emergence of
competitors with greater financial resources and the impact of
competitive pricing. In the light of these uncertainties, the
forward-looking events referred to in this release might not occur.
These statements have not been evaluated by the Food and Drug
Administration. These products are not intended to diagnose, treat,
cure, or prevent any disease.
Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
+1-800-861-1350
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